Percent Error and Simple Interest

Jonah earned $150.36 in interest on an account that earns 1.4% simple interest. If Jonah opened the account 12 years ago, what was the principal amount?

• $89.50

• $25.20

• $150.36

• $895

Scott took out a 72 month loan for $35,000 to purchase a new boat. If Scott paid $8,925 in simple interest, what was the interest rate?

• .35%

• 4.25%

• .0425%

• .0035%

The veterinarian weighed Oliver’s new puppy, Boaz, on a broken scale. He weighed 36 pounds. However, Boaz actually weighs 34.5 pounds. What is the percent error?

• .043%

• 4.3%

• 104.3%

• 1.04%

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?

• $150

• $192

• $1350

• $1392

You estimate that 200 people attend a school concert. The actual attendance was 240.   What is the percent error?

• 20%

• 18%

• 16%

• 17%

You guessed that the Chicago Cubs would win 95 games during the regular season. They actually won 103. What was your percent error? Round to the nearest tenth if necessary.

• 7.8%

• 7.7%

• 0.77%

• 0.78%

You guess that Lebron James would score 35 points during the game. He actually scored 28. Find your percent error.

• 30%

• 33%

• 75%

• 25%

The simple interest formula is I=Prt.  The P represents the principle.  The principle is ___________________.  

• the amount of money borrowed or deposited

• the percent interest for his year

• the amount taxed

• the amount the bank owes you for being a customer at their bank

Find the percent error:

Estimated Value: 43

Actual Value: 50

DO NOT TYPE THE PERCENT SIGN

Find the percent errors for Trial A and Trial B.

• Trial A = 10%

• Trial A = 9%

• Trial B = 33%

• Trial B = 50%